Minister of Finance, Kemi Adeosun has explained that failure by the NNPC to justify the amount it remitted this month, is responsible for the deadlocked FAAC meeting and may cause delay in the payment of June Salary.
She insists the figures NNPC was proposing to FAAC are unacceptable .
State House Correspondent Mariah Olasehinde reports that the meeting was the 89th National Economic Council Meeting in this Administration.
After the meeting, Finance Minister and Chairman of FAAC Kemi Adeosun expressed displeasure on the NNPC remittance to FAAC, explaining that some of the costs couldn’t be justified and so they have decided that rather than approve the accounts, they will go back and do further work.
Implication of the deadlock
Adeosun who said further negotiations are going on with NNPC, has asked for the support of President Buhari on this issue because the consequence of this deadlock is that, salaries might be delayed in many states.
NEC also resolved that the Nigeria Sovereign Investment Authorities, account be approved, stating that NSIA in 2018 will focus on executing the infrastructure investments strategy in its core focus areas of Power, Toll roads, Agriculture and Healthcare .